Iconix Brand Group, Inc. (NASDAQ:ICON) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $1.12, but opened at $1.32. Iconix Brand Group shares last traded at $1.38, with a volume of 2320343 shares traded.
The brand management company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.07. Iconix Brand Group had a positive return on equity of 17.65% and a negative net margin of 311.99%. The firm had revenue of $52.30 million during the quarter, compared to analyst estimates of $51.50 million. During the same period in the prior year, the company posted $0.38 earnings per share.
Several research analysts have issued reports on ICON shares. ValuEngine upgraded Iconix Brand Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Roth Capital set a $2.00 target price on Iconix Brand Group and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, Zacks Investment Research upgraded Iconix Brand Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.00.
Several large investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Iconix Brand Group in the fourth quarter valued at $636,000. Two Sigma Investments LP acquired a new stake in shares of Iconix Brand Group in the fourth quarter valued at $528,000. Spark Investment Management LLC acquired a new stake in shares of Iconix Brand Group in the fourth quarter valued at $187,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Iconix Brand Group in the fourth quarter valued at $495,000. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in shares of Iconix Brand Group by 75.1% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 2,084,928 shares of the brand management company’s stock valued at $2,690,000 after buying an additional 894,330 shares in the last quarter. Institutional investors own 68.61% of the company’s stock.
The company has a market capitalization of $79.94, a P/E ratio of -0.09 and a beta of 1.08. The company has a debt-to-equity ratio of -5.92, a quick ratio of 0.69 and a current ratio of 0.69.
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About Iconix Brand Group
Iconix Brand Group, Inc is a brand management company. As of December 31, 2016, the Company owned a portfolio of over 30 global consumer brands across women’s, men’s, and home categories. The Company operates through segments: men’s, women’s, home and international. The Company’s brand portfolio includes brands, such as Candie’s, Bongo, Joe Boxer, Rampage, Mudd, London Fog, Mossimo, Ocean Pacific/OP, Danskin/Danskin Now, Rocawear/Roc Nation, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Ecko Unltd/Mark Ecko Cut & Sew, Zoo York, Umbro, Lee Cooper and Artful Dodger, and interests in Material Girl, Ed Hardy, Truth or Dare, Modern Amusement, Buffalo, Nick Graham Hydraulic and PONY brands.
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